Innovex Downhole Solutions

What Innovex Downhole Solutions does

Innovex Downhole Solutions, now operating as Innovex International, Inc. (NYSE: INVX), is a Houston-headquartered energy industrial platform that designs, manufactures, and rents mission-critical oilfield equipment for upstream onshore and offshore operators worldwide. The company was founded in 2016 by CEO Adam Anderson and grew through serial acquisitions of complementary downhole tool businesses, including TIW (Texas Iron Works, 2018) for liner hangers, QCI for artificial lift penetrators, Logan Oil Tools for fishing tools, and Great North for thermal wellheads. In September 2024, Innovex completed a merger with Dril-Quip, Inc., combining Dril-Quip's subsea wellhead, connector, and surface unitized systems portfolio with Innovex's completion, production, intervention, and spooling service assets, and the combined entity began trading on the NYSE under the ticker INVX on September 9, 2024.

The company's product portfolio is organized across six categories: Subsea Solutions (BigBore IIe, SS-15 RLDe, and SS-10C wellheads; DXe and DX connectors; MS-15 mudline suspension systems; diverter systems; deepwater tools including SwivelMASTER and EzeeGLIDER), Surface Wellheads (Alpha Wellhead System, G-25 Stacker Drill-Thru, production trees, thermal wellheads for SAGD/CSS, and frac solutions including the Multi-Well Frac Connector and Conveyor Frac Ball Launching System), Well Construction (reamers/stabilizers, drilling enhancement tools, WearSox centralizers, stage cementing equipment, specialty deployment tools, and downhole swivels), Well Completion (B3 dissolvable frac plug, Sentry composite frac plug, Pocket Plug, SureFIRE power charges, Orio toe sleeves, liner hangers, inflatable packers), Production Solutions (LiftSmart autonomous surface-controlled gas lift system with SCADA/Modbus connectivity, QCI penetrators for ESP applications, and a 99-unit/161-truck spooling services fleet), and Fishing & Intervention (Logan brand overshots, spears, junk catchers, jars, safety joints, wireline equipment, and remedial repair tools). Differentiated technologies include proprietary deepwater centralization (WearSox), HPHT subsea wellheads fatigue-tested beyond 90 million cycles, and dissolvable frac plug systems.

Innovex generates revenue through three streams: (1) product sales of manufactured oilfield equipment sold as one-time purchases under standard price books, (2) rental of downhole tools on usage-based terms per published price books, and (3) technical services including installation, maintenance, field service, and a dedicated spooling fleet for ESP cable installations. Pricing is quote-based, organized through tiered Price Books with separate terms for standard versus custom-manufactured products (non-cancellable once production begins; 70% restocking fee within 12 months). The company sells through direct enterprise field sales to E&P operators and oilfield service companies across North America, Latin America (Brazil, Mexico, Argentina), Europe, the Middle East (Saudi Arabia, Iraq), Africa (Angola), and Asia, supported by regional presidents/SVPs for North America, LATAM, Middle East & Asia, and Europe/Caspian/Africa. Reported revenue scaled from approximately $294.8M in 2021 to $978.3M in 2025, with gross margins around 31% and EBITDA margins near 18% in 2025.

Name

Innovex Downhole Solutions

Legal name

Innovex International, Inc.

Website

https://innovex-inc.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

251–500 employees

Short description

Innovex International (NYSE: INVX) is a Houston-based energy industrial platform that designs, manufactures, and rents mission-critical downhole and wellhead equipment spanning the full well lifecycle for upstream oil and gas operators globally, formed via the 2024 merger of Innovex Downhole Solutions and Dril-Quip.

Ownership category

akta.pro rank

Product category

Oilfield Equipment and Downhole Tools

NAICS

Oil and Gas Field Machinery and Equipment Manufacturing (333132), Mining and Oil and Gas Field Machinery Manufacturing (33313)

SIC

Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Completion Tools & Subsurface Equipment (Packers, Liners, Valves, Sand Control) (EUALABAD)

akta.pro secondary industries

Oilfield Equipment Manufacturing & Supply (Wellheads, BOPs, Surface Equipment) (EUALABAL), Well Construction & Completion Services (Cementing, Casing, Tubular Running) (EUALABAC)

Keywords

• Downhole tools
• Oilfield equipment
• Wellhead systems
• Frac plugs
• Completion products

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Revenue model

1. Product Sales: Sale of manufactured oilfield equipment including subsea wellheads, surface wellheads, well construction tools, completion tools, production equipment, and fishing/intervention tools. Products sold as one-time purchases with standard warranties.
2. Rental Equipment: Rental of downhole tools and equipment to oil and gas operators for drilling, completion, and intervention operations. Rental periods vary based on well operations.
3. Services: Technical services including installation, maintenance, field service, and analytical services for oil and gas operations. Services performed by qualified personnel at customer worksites.
4. Spooling Services: Dedicated fleet of 99 spooling units and 161 trucks providing cable and line spooling services for ESP installations and well operations.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels8 records

Core offering

Innovex Downhole Solutions designs, manufactures, and sells engineered downhole tools, wellhead systems, and completion products used by oil and gas operators and service companies in upstream drilling and production operations. Its portfolio includes subsea and surface wellheads, frac plugs, gas lift systems, fishing tools, and perforating gun accessories deployed in onshore and offshore wells.

Product overview

Innovex International, Inc. (NYSE: INVX) is a Houston-based energy industrial company established in September 2024 following the merger of Dril-Quip, Inc. and Innovex Downhole Solutions. It operates as a single unified product portfolio spanning the entire well lifecycle, organized into six major product categories: Subsea Solutions (subsea wellheads including BigBore™ IIe, SS-15® RLDe, and SS-10C®; connectors including DXe® and DX®; MS-15® Mudline Suspension System; diverter systems; and deepwater downhole tools like SwivelMASTER® and EzeeGLIDER®), Surface Wellheads (Alpha Wellhead System, G-25 Stacker Drill-Thru System, Production Trees, Pumping Wellheads, Thermal Wellheads for SAGD and CSS operations, and Frac Solutions including Multi-Well Frac Connector and Conveyor Frac Ball Launching System), Well Construction (reamers/stabilizers such as EzeeBORE and EzeeREAM; drilling enhancement tools including RIPstick, PowerGLIDE, SlideKICK; WearSox® deepwater centralizers; cementing tools; specialty deployment tools like Drillshoe and CasingSWIVEL; downhole swivels including TerraSWIVEL and TornadoSWIVEL; and float equipment), Well Completion (B3 Dissolvable Frac Plug, Sentry Composite Frac Plug, Pocket Plug® Completion System, SureFIRE™ Power Charges, Orio® and Orio® 3D Toe Sleeves, ThunderDome Casing Flotation System, Ranger and SelectSET Liner Hangers with mechanical and hydraulic running tools, inflatable service packers, and production/service tools), Production Solutions (LiftSmart autonomous surface-controlled gas lift system with SCADA/Modbus connectivity, QCI penetrators for ESP applications, spooling services with 99 units/161 trucks, cable management, and ESP laydown services), and Fishing & Intervention (Logan brand casing pulling tools, internal/external catch overshots, spears, junk baskets, fishing magnets, milling and cutting tools, jars and energizers, safety joints, wireline equipment, and remedial repair tools). Note: The Subsea Tree product line (HXT, SBTe, VXTe, DualBore, ConcentricBore) was divested to Trendsetter Engineering in 2025.

Differentiator

Problem solved

Functional benefit

Brands

• Dril-Quip: Subsea wellhead systems, connectors, and subsea tree products (divested in 2025)
• Great North
• Logan Oil Tools
• WearSox
• SwivelMASTER
• QCI

Products and services

• BigBore IIe Subsea Wellhead

Quantifiable outcome

• BigBore IIe reduces rig time by eliminating trips and extra drilling/production lockdown devices
• +3 more outcomes

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature8 records

Partnerships

One partnership is on record.

• Trendsetter EngineeringminorStrategic or Co-development Partner · 1 January 2025Innovex completed the divestment of its Subsea Tree product line to Trendsetter Engineering, a premier provider of specialized subsea technologies. The divestment includes HXT Horizontal Subsea Tree, SBTe SingleBore Vertical Subsea Tree, VXTe Vertical Subsea Tree, DualBore Vertical Subsea Tree, and ConcentricBore Vertical Subsea Tree. Innovex committed to supporting a seamless transition of the business to Trendsetter over the coming months.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Baker Hughes: Baker Hughes is a global integrated oilfield services and industrial energy technology company offering well construction, completion, production, and subsea solutions. It overlaps with Innovex across completions, wellheads, and downhole tools, though at much larger scale and with a broader portfolio.
• Halliburton: Halliburton is a leading oilfield services company with strong completions and production solutions franchises. Its liner hangers, frac plugs, and downhole tools directly compete with Innovex's well completion product lines.
• SLB (Schlumberger): SLB is the world's largest oilfield services company, with well construction, completions, production, and subsea integration offerings that directly overlap Innovex's portfolio. Its Cameron subsea business in particular rivals Innovex's legacy Dril-Quip wellhead franchise.

Direct peers

• Forum Energy Technologies: Forum Energy Technologies designs, manufactures, and supplies subsea, drilling, and production equipment. Its product range in well construction, intervention tools, and subsea equipment is directly comparable to Innovex's mid-market oilfield equipment footprint.
• ChampionX: ChampionX is a production chemistry and artificial lift technology provider serving upstream oil and gas operators. Its artificial lift and production solutions business overlaps with Innovex's LiftSmart gas lift and QCI penetrator product lines.
• Dril-Quip (pre-merger entity): Dril-Quip was the long-established subsea wellhead manufacturer that merged with Innovex Downhole Solutions in 2024 to form Innovex International. Its historical product focus on subsea wellheads and connectors forms the core of Innovex's subsea product line today.
• TechnipFMC: TechnipFMC is a leading subsea and surface equipment integrator supplying subsea trees, wellheads, and integrated production systems. It directly competes with Innovex's subsea wellhead and downhole deepwater solutions business.
• Trendsetter Engineering: Trendsetter Engineering is a specialized subsea technology provider that acquired Innovex's Subsea Tree product line in 2025. It directly competes with Innovex's remaining subsea wellhead and connector portfolio for offshore field development projects.
• Weatherford International: Weatherford is a focused oilfield equipment and services provider offering well construction, completions, and production solutions. Its product portfolio in liner hangers, packers, and downhole tools closely mirrors Innovex's well construction and completion catalog.

Others

• Core Laboratories: Core Laboratories provides reservoir description and production enhancement services to the upstream oil and gas industry. While it sells services rather than equipment, it competes with Innovex for share of the upstream operator wallet across completion and production workflows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@invx_inc
• Facebookfacebook.com/invx.inc
• LinkedInlinkedin.com/company/innovex.
• Instagraminstagram.com/invx.inc

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries6 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A5 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innovex Downhole Solutions